KTR Alleges Irregularities In Telangana Land Deal, Defence Firm Denies
BRS leader KTR has alleged irregularities in a Telangana government land deal involving defence startup Tesseract Advanced Systems. The company has denied the claims, stating the allocation followed standard government procedures.
Why it matters
The dispute highlights concerns over transparency in government industrial land allocations and the vetting of startups receiving state support.
Bharat Rashtra Samithi (BRS) working president KT Rama Rao (KTR) has alleged irregularities in the allocation of five acres of industrial land in Telangana to Hyderabad-based defence startup Tesseract Advanced Systems Pvt Ltd, questioning how land reportedly valued at Rs 200 crore was allotted for around Rs 7 crore.KTR alleged that the company had a paid-up capital of only Rs 1 lakh and reportedly had no employees when the land allocation was made. He questioned the financial credentials of Tesseract and sought clarity on the role of A Kondal Reddy, who he claimed was presented as the company's chairman and represented it at official meetings."If Kondal Reddy has no connection with Tesseract, why was he presented as its Chairman and why did he represent the company at meetings?
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in